FX.co ★ EUR/JPY technical analysis for June 18, 2013

EUR/JPY now do not have a clear trend, this is indicated by all the three moving averages already touching each other, which means the market is in a ranging situation. The best thing we can do now is waiting until the trend establishes after EUR/JPY breaks out from the ranging situation.

RECOMMENDATION:

No trade until we spot the established trend.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

https://instaforex.com

Email: Arief.jakarta@indo.instaforex.com

Yahoo Messenger & Skype: Arief.ifx_jakarta

blog.mt5.com/arief

https://www.mt5.com/forex_analysis_award/profile/index/arief

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.